EXHIBIT 99.1
UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS OF GRUPO AEROPORTUARIO DEL SURESTE, S.A.B. DE C.V.
Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries
Unaudited Condensed Consolidated Interim Financial Statements
As of June 30, 2026 and December 31, 2025 and
For the six-month periods ended June 30, 2026 and 2025
Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries
Contents
June 30, 2026 and December 31, 2025
| Financial statements: | |
| Unaudited Condensed consolidated statements of financial position | 1 |
| Unaudited Condensed consolidated statements of comprehensive income | 2 |
| Unaudited Condensed consolidated statement of changes in stockholders' equity | 3 |
| Unaudited Condensed consolidated statements of cash flows | 4 |
| Notes to the unaudited condensed consolidated interim financial statements | 5 to 21 |
Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries
Unaudited Condensed Consolidated Statements of Financial Position
As of June 30, 2026 and December 31, 2025
Thousands of Mexican pesos
| 2026 | 2025 | ||||||||||
| Assets | |||||||||||
| CURRENT ASSETS: | |||||||||||
| Cash and cash equivalents | 6 | $ | 11,641,384 | $ | 11,116,335 | ||||||
| Restricted cash and cash equivalents | 6 | 1,936,820 | 2,041,027 | ||||||||
| Accounts receivable – Net | 7 | 2,642,261 | 2,562,309 | ||||||||
| Receivable from third parties | 7 | 100,696 | 100,696 | ||||||||
| Recoverable income taxes | 7 | 1,097,880 | 1,112,994 | ||||||||
| Creditable value added tax | 7 | 166,536 | 160,132 | ||||||||
| Inventory | 7 | 70,414 | 93,237 | ||||||||
| Other assets | 7 | 829,536 | 691,057 | ||||||||
| Total current assets | 18,485,527 | 17,877,787 | |||||||||
| NON-CURRENT ASSETS: | |||||||||||
| Land, furniture and equipment – Net | 8 | 310,124 | 303,068 | ||||||||
| Investment properties – Net | 9 | 12,187,235 | 12,758,949 | ||||||||
| Intangible assets, airport concessions and goodwill – Net | 10 | 58,716,005 | 58,022,949 | ||||||||
| Investment accounted for using the equity method | 281,659 | 283,108 | |||||||||
| Total assets | $ | 89,980,550 | $ | 89,245,861 | |||||||
| Liabilities and Stockholders' Equity | |||||||||||
| CURRENT LIABILITIES: | |||||||||||
| Bank loans | 13 | $ | 15,867,018 | $ | 220,356 | ||||||
| Short term debt | 404,718 | 405,494 | |||||||||
| Lease liabilities | 11 | 1,269,421 | 1,394,981 | ||||||||
| Income tax payable | 15 | 250,389 | 423,644 | ||||||||
| Accounts payable and accrued expenses | 12 | 3,543,394 | 3,458,705 | ||||||||
| Total current liabilities | 21,334,940 | 5,903,180 | |||||||||
| NON-CURRENT LIABILITIES: | |||||||||||
| Bank loans | 13 | 2,423,441 | 18,396,343 | ||||||||
| Long-term debt | 13 | 8,084,526 | 8,464,370 | ||||||||
| Lease liabilities | 11 | 6,404,691 | 6,720,103 | ||||||||
| Deferred income tax | 15 | 3,192,425 | 3,278,190 | ||||||||
| Employee benefits obligations | 84,179 | 77,309 | |||||||||
| Total liabilities | 41,524,202 | 42,839,495 | |||||||||
| STOCKHOLDERS' EQUITY: | |||||||||||
| Capital stock | 14 | 7,767,276 | 7,767,276 | ||||||||
| Capital reserves | 2,542,227 | 2,542,227 | |||||||||
| Other comprehensive loss | (951,421 | ) | (788,686 | ) | |||||||
| Retained earnings | 32,096,681 | 29,987,071 | |||||||||
| Controlling interest | 41,454,763 | 39,507,888 | |||||||||
| Non-controlling interest | 7,001,585 | 6,898,478 | |||||||||
| Total stockholders' equity | 48,456,348 | 46,406,366 | |||||||||
| Total liabilities and stockholders' equity | $ | 89,980,550 | $ | 89,245,861 | |||||||
The accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements.
Page 1
Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries
Unaudited Condensed Consolidated Statements of Comprehensive Income - by Expense Function
For the six and three-month periods ended June 30, 2026 and 2025
Thousands of Mexican pesos
| Six months period ended | Three months period ended | |||||||||||||||
| June 30, | June 30, | |||||||||||||||
| 2026 | 2025 | 2Q 2026 | 2Q 2025 | |||||||||||||
| Revenue (Notes 3 and 4): | ||||||||||||||||
| Aeronautical services | $ | 9,667,632 | $ | 10,019,456 | $ | 4,543,262 | $ | 4,816,236 | ||||||||
| Non-aeronautical services | 6,031,129 | 5,585,424 | 2,864,520 | 2,615,686 | ||||||||||||
| Construction services | 2,679,166 | 1,898,027 | 2,171,182 | 1,283,510 | ||||||||||||
| Total revenue | 18,377,927 | 17,502,907 | 9,578,964 | 8,715,432 | ||||||||||||
| Operating costs and expenses (Note 5): | ||||||||||||||||
| Cost of aeronautical and non-aeronautical services | (6,905,411 | ) | (5,911,991 | ) | (3,390,700 | ) | (2,929,522 | ) | ||||||||
| Cost of construction services | (2,679,166 | ) | (1,898,027 | ) | (2,171,182 | ) | (1,283,510 | ) | ||||||||
| Administrative expenses | (215,396 | ) | (179,055 | ) | (127,004 | ) | (88,392 | ) | ||||||||
| Total operating costs and expenses | (9,799,973 | ) | (7,989,073 | ) | (5,688,886 | ) | (4,301,424 | ) | ||||||||
| Operating profit | 8,577,954 | 9,513,834 | 3,890,078 | 4,414,008 | ||||||||||||
| Interest income | 587,956 | 847,682 | 429,015 | 383,749 | ||||||||||||
| Interest expense | (1,532,309 | ) | (574,114 | ) | (837,302 | ) | (329,116 | ) | ||||||||
| Exchange income on foreign currency | 643,480 | 92,673 | 140,494 | 45,415 | ||||||||||||
| Exchange loss on foreign currency | (863,865 | ) | (1,464,315 | ) | (392,418 | ) | (1,202,929 | ) | ||||||||
| Share of loss of investments accounted for using the equity method | (1,233 | ) | (1,401 | ) | (369 | ) | (391 | ) | ||||||||
| Fair value gain (loss) | 87,878 | - | 49,510 | - | ||||||||||||
| Net income before income taxes | 7,499,861 | 8,414,359 | 3,279,008 | 3,310,736 | ||||||||||||
| Income tax | (2,188,891 | ) | (2,505,958 | ) | (894,446 | ) | (1,040,554 | ) | ||||||||
| Net income for the period | $ | 5,310,970 | $ | 5,908,401 | $ | 2,384,562 | $ | 2,270,182 | ||||||||
| Net income attributable to: | ||||||||||||||||
| Controlling interest | 5,109,610 | 5,660,598 | 2,295,051 | 2,144,814 | ||||||||||||
| Non-controlling interest | 201,360 | 247,803 | 89,511 | 125,368 | ||||||||||||
| Other comprehensive income: | ||||||||||||||||
| Items that will be reclassified to income: | ||||||||||||||||
| Effect of foreign currency translation – that may be reclassified subsequently to income | (260,988 | ) | (1,292,493 | ) | (234,891 | ) | (890,514 | ) | ||||||||
| Other comprehensive loss for the period | (260,988 | ) | (1,292,493 | ) | (234,891 | ) | (890,514 | ) | ||||||||
| Total comprehensive income for the period | $ | (260,988 | ) | (1,292,493 | ) | $ | (234,891 | ) | (890,514 | ) | ||||||
| Total comprehensive income attributable to: | 5,049,982 | 4,615,908 | 2,149,671 | 1,379,668 | ||||||||||||
| Controlling interest | 4,946,875 | 4,811,383 | 2,055,715 | 1,584,650 | ||||||||||||
| Non-controlling interest | 103,107 | (195,475 | ) | 93,956 | (204,982 | ) | ||||||||||
| Basic and diluted earnings per share expressed in Mexican pesos (Note 14) | 17.032 | 18.869 | 7.655 | 7.149 | ||||||||||||
The accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements.
Page 2
Grupo Aeroportuario del Sureste, S. A. B. de C. V. and s0075bsidiaries
Unaudited Condensed Consolidated Statement of Changes in Stockholders' Equity
Six-month periods ended June 30, 2026 and 2025
Thousands of Mexican pesos
| Movement | Capital stock | Legal reserve | Reserve
for repurchase of shares | Other comprehensive income (loss) | Retained earnings | Controlling interest | Non- controlling interest | Total stockholders' equity | ||||||||||||||||
| Balances at January 1, 2025 | 7,767,276 | 2,542,227 | 23,191,198 | 391,485 | 20,320,736 | 54,212,922 | 7,399,703 | 61,612,625 | ||||||||||||||||
| Net income for the period | 5,660,598 | 5,660,598 | 247,803 | 5,908,401 | ||||||||||||||||||||
| Other comprehensive loss and other movements | (849,215 | ) | (849,215 | ) | (443,278 | ) | (1,292,493 | ) | ||||||||||||||||
| Total comprehensive income (loss) | (849,215 | ) | 5,660,598 | 4,811,383 | (195,475 | ) | 4,615,908 | |||||||||||||||||
| Transfer of reserve for repurchase of shares | (23,191,198 | ) | 23,191,198 | |||||||||||||||||||||
| Dividends declared | (24,000,000 | ) | (24,000,000 | ) | (24,000,000 | ) | ||||||||||||||||||
| Balances at June 30, 2025 | 7,767,276 | 2,542,227 | (457,730 | ) | 25,172,532 | 35,024,305 | 7,204,228 | 42,228,533 | ||||||||||||||||
| Balances at January 1, 2026 | 7,767,276 | 2,542,227 | (788,686 | ) | 29,987,071 | 39,507,888 | 6,898,478 | 46,406,366 | ||||||||||||||||
| Net income for the period | 5,109,610 | 5,109,610 | 201,360 | 5,310,970 | ||||||||||||||||||||
| Other comprehensive loss and other movements | (162,735 | ) | (162,735 | ) | (98,253 | ) | (260,988 | ) | ||||||||||||||||
| Total comprehensive income (loss) | (162,735 | ) | 5,109,610 | 4,946,875 | 103,107 | 5,049,982 | ||||||||||||||||||
| Dividends declared and paid | (3,000,000 | ) | (3,000,000 | ) | (3,000,000 | ) | ||||||||||||||||||
| Balances at June 30, 2026 | 7,767,276 | 2,542,227 | (951,421 | ) | 32,096,681 | 41,454,763 | 7,001,585 | 48,456,348 |
The accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements.
Page 3
Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries
Unaudited Condensed Consolidated Statements of Cash Flows
Six-month periods ended June 30, 2026 and 2025
Thousands of Mexican pesos
| 2026 | 2025 | |||||||||||
| Operating activities | ||||||||||||
| Income before income taxes | $ | 7,499,861 | $ | 8,414,359 | ||||||||
| Adjustments for: | ||||||||||||
| Depreciation and amortization | 1,601,001 | 1,235,699 | ||||||||||
| Share of loss of investments accounted for using the equity method | 1,233 | 1,400 | ||||||||||
| Interest income | (587,956 | ) | (847,682 | ) | ||||||||
| Interest expense | 1,532,309 | 574,115 | ||||||||||
| Exchange loss | 784,192 | 336,708 | ||||||||||
| Exchange gain | (633,203 | ) | (286,492 | ) | ||||||||
| Subtotal | 10,197,437 | 9,428,107 | ||||||||||
| Changes in operating assets and liabilities: | ||||||||||||
| Accounts receivable | 79,952 | 883,799 | ||||||||||
| Recoverable taxes and other current assets | 106,946 | 1,045,818 | ||||||||||
| Income taxes paid | (2,824,188 | ) | (4,262,760 | ) | ||||||||
| Trade accounts payable and accrued expenses | 86,277 | (1,286,544 | ) | |||||||||
| Net cash flows provided by operating activities | $ | 7,646,424 | $ | 5,808,420 | ||||||||
| Investing activities | ||||||||||||
| Redemption of investments in financial instruments | - | 1,537,688 | ||||||||||
| Restricted cash | 76,600 | (39,197 | ) | |||||||||
| Investments in machinery, furniture, equipment and concession improvements | 8 | (2,494,627 | ) | (2,035,750 | ) | |||||||
| Interest received | 587,956 | 846,886 | ||||||||||
| Net cash flows (used in) provided by investing activities | $ | (1,830,071 | ) | $ | 309,627 | |||||||
| Financing activities | ||||||||||||
| Proceeds from bank loans | 13 | - | 9,500,000 | |||||||||
| Restricted cash | 27,607 | 126,298 | ||||||||||
| Repayment of bank loans | 13 | (323,875 | ) | - | ||||||||
| Repayment of long-term debt | 13 | (129,328 | ) | (133,573 | ) | |||||||
| Lease payments - Principal portion | 11 | (456,160 | ) | (5,709 | ) | |||||||
| Interest paid | (1,334,687 | ) | (509,048 | ) | ||||||||
| Dividends paid | 14 | (3,000,000 | ) | (15,000,000 | ) | |||||||
| Net cash flows used in financing activities | $ | (5,216,443 | ) | $ | (6,022,032 | ) | ||||||
| Net increase in cash and cash equivalents | 599,910 | 96,015 | ||||||||||
| Cash and cash equivalents at the beginning of the period | 11,116,335 | 20,083,457 | ||||||||||
| Exchange loss on cash and cash equivalents | (74,861 | ) | (363,604 | ) | ||||||||
| Cash and cash equivalents at the end of the period | $ | 11,641,384 | $ | 19,815,868 | ||||||||
The accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements.
Page 4
Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries
Notes to the Unaudited Condensed Consolidated Interim Financial Statements
June 30, 2026 and December 31, 2025
Figures expressed in thousands of Mexican pesos (Ps$), thousands of U.S. dollars (USD$) and thousands of Colombian pesos (COP$), except for number of shares, earnings per share and exchange rates.
Note 1 - General information and significant events:
Grupo Aeroportuario del Sureste, S. A. B. de C. V. (the Company or ASUR) and its subsidiaries (collectively, the Group) operate nine airports in southeastern Mexico, the Luis Muñoz Marín International Airport in San Juan, Puerto Rico, six airports in Colombia and commercial programs at selected airport terminals in the United States. The Company’s Series B shares are listed on the Mexican Stock Exchange and its American Depositary Shares are listed on the New York Stock Exchange.
1.1 Sustainability and climate-related matters
The Group’s Sustainability Committee oversees the sustainability strategy, proposed targets, mitigation and adaptation initiatives and the sustainability report. The Group’s principal physical climate risks include extreme heat, which can increase electricity consumption for cooling systems, and hurricanes, particularly for Cancún and San Juan. Principal transition risks include higher airline operating costs that could affect passenger demand, higher electricity costs and requirements to incorporate renewable energy.
Management evaluated the measures and actions implemented in response to sustainability and climate-related risks and concluded that their financial effects were reflected in the estimates and judgments applied in these condensed consolidated interim financial statements. No additional material financial impact was identified at June 30, 2026.
1.2 Seasonality and passenger traffic
Passenger traffic and the Group’s results are affected by seasonal travel patterns. Results for an interim period are therefore not necessarily indicative of the results for the full year. Passenger traffic for the six-month periods ended June 30 was as follows:
| Passengers (thousands) | Six months
period ended June 30, 2026 | Six months
period ended June 30, 2025 | Three months
period ended June 30, 2026 | Three months
period ended June 30, 2025 | ||||||||||||
| Domestic – Mexico | 9,396 | 9,516 | 4,850 | 4,935 | ||||||||||||
| Domestic – Aerostar | 6,151 | 6,351 | 3,009 | 3,123 | ||||||||||||
| Domestic – Airplan | 6,754 | 6,252 | 3,302 | 3,173 | ||||||||||||
| Total domestic passengers | 22,301 | 22,119 | 11,161 | 11,231 | ||||||||||||
| International – Mexico | 11,054 | 11,446 | 4,661 | 5,081 | ||||||||||||
| International – Aerostar | 834 | 838 | 445 | 456 | ||||||||||||
| International – Airplan | 2,025 | 1,934 | 983 | 966 | ||||||||||||
| Total international passengers | 13,913 | 14,218 | 6,089 | 6,503 | ||||||||||||
| Total passengers | 36,214 | 36,337 | 17,250 | 17,734 | ||||||||||||
Note 2 - Basis of preparation and material accounting policy information:
These condensed consolidated interim financial statements as of June 30, 2026, December 31, 2025 and for the three and six-month periods ended June 30, 2026 and 2025 have been prepared in accordance with International Accounting Standard (IAS) 34, Interim Financial Reporting. These condensed consolidated interim financial statements prepared in accordance with International Financial Reporting Standards as issued by the IASB (”IFRS Accounting Standards”) do not include all the information and disclosures required in the annual financial statements and should be read in conjunction with the Group’s annual consolidated financial statements as of December 31, 2025, and any public announcements made by the Company during the interim reporting period. However, selected explanatory notes are included to explain events and transactions that are significant to an understanding of changes in the Group’s financial position and performance since the last annual consolidated financial statements.
The same accounting policies, presentation and methods of computation applied in the annual consolidated financial statements for 2025 have been applied in these condensed consolidated interim financial statements, except for the Income tax (see note 15) and the adoption of amended IFRS Accounting Standards effective from January 1, 2026. These financial statements have been prepared on a going concern basis and principally under the historical cost convention, except for investment properties and other items measured at fair value in accordance with the applicable IFRS Accounting Standards.
2.1 Use of estimates and judgments
The preparation of condensed consolidated interim financial statements requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis, and revisions are recognized in the period in which the estimates are revised and in any future periods affected. Material changes in judgments and estimates during the period are described in Notes 9, 10, 15 and 19.
Page 5
Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries
Notes to the Unaudited Condensed Consolidated Interim Financial Statements
June 30, 2026 and December 31, 2025
2.2 New and amended IFRS Accounting Standards effective in 2026
| Pronouncement | Principal requirement | Effect on the Group | ||
| Amendments to IFRS 9 and IFRS 7 - Classification and Measurement of Financial Instruments | Clarify recognition and derecognition dates, the SPPI assessment and disclosures for instruments with contractual terms that can change cash flows. | No material impact identified | ||
| Annual Improvements to IFRS Accounting Standards - Volume 11 | Amend IFRS 1, IFRS 7, IFRS 9, IFRS 10 and IAS 7. | No material impact identified | ||
| Amendments to IFRS 9 and IFRS 7 - Contracts Referencing Nature-dependent Electricity | Amend the own-use and hedge accounting requirements and introduce targeted IFRS 7 disclosures. | No material impact identified | ||
| IFRS Interpretations Committee agenda decisions published through June 30, 2026 | Include decisions addressing transaction costs under IFRS 9, certain IFRS 16 arrangements and fair presentation under IAS 1. | No material impact identified |
2.3 Standards issued but not yet effective
IFRS 18, Presentation and Disclosure in Financial Statements, is effective for annual reporting periods beginning on or after January 1, 2027. The Group is assessing the effects on the structure of the statement of profit or loss, classification of income and expenses, required subtotals, aggregation and disaggregation and disclosures for management-defined performance measures. The Group currently reports EBITDA and adjusted EBITDA measures outside the financial statements and is evaluating whether those measures will meet the definition of management-defined performance measures. IFRS 18 will be applied retrospectively, including to the 2025 and 2026 comparative information presented in the 2027 interim and annual financial statements.
IFRS 19, Subsidiaries without Public Accountability: Disclosures, is also effective from January 1, 2027. The parent company is not eligible to apply IFRS 19 in its consolidated financial statements. The Group is evaluating whether eligible subsidiaries will be permitted to apply the reduced disclosure requirements in their separate financial statements. Such application would not affect the Group’s consolidated financial statements.
IFRS 20, Regulatory Assets and Regulatory Liabilities: In May 2026, the IASB issued IFRS 20, Regulatory Assets and Regulatory Liabilities, which establishes accounting requirements for entities subject to regulatory agreements that determine the amount an entity is entitled to charge customers for goods or services supplied and the timing of when that compensation is included in the amounts charged to customers. IFRS 20 requires an entity within its scope to recognize regulatory assets and regulatory liabilities arising from differences in timing between the recognition of compensation for goods or services supplied and the inclusion of that compensation in the amounts charged to customers. The Standard also establishes requirements for the measurement, presentation and disclosure of regulatory assets, regulatory liabilities, regulatory income and regulatory expense. IFRS 20 is effective for annual reporting periods beginning on or after January 1, 2029, with earlier application permitted, and will replace IFRS 14, Regulatory Deferral Accounts.
Group is currently assessing and identifying all the potential impacts that the adoption of the new standard will have on the consolidated financial statements and notes.
Page 6
Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries
Notes to the Unaudited Condensed Consolidated Interim Financial Statements
June 30, 2026 and December 31, 2025
Note 3 - Segment information:
The chief operating decision maker reviews financial information for Cancún, Aerostar, Airplan, ASUR Airports, Mérida, Villahermosa, Services and Other operations. Following the acquisition of ASUR Airports LLC on December 11, 2025, ASUR Airports is presented as a separate reportable segment beginning in 2026 because its results are regularly reviewed separately by the chief operating decision maker and are material to an understanding of the Group’s commercial operations in the United States. Accordingly, there is no corresponding ASUR Airports segment information for the six-month period ended June 30, 2025, as the business was not part of the Group during that period.
Segment information – 2026
| Six months ended June 30, 2026 | Cancún | Aerostar | Airplan | ASUR Airports | Mérida | Villahermosa | Holding & Services | Other | Eliminations | Total | ||||||||||||||||||||
| Aeronautical revenue | 5,346,770 | 1,087,696 | 1,325,485 | - | 633,464 | 244,739 | - | 1,029,478 | - | 9,667,632 | ||||||||||||||||||||
| Non-aeronautical revenue | 3,147,539 | 1,159,036 | 563,975 | 822,410 | 149,438 | 40,101 | 626,757 | 148,630 | (626,757 | ) | 6,031,129 | |||||||||||||||||||
| Revenue for construction services | 1,724,290 | 232,519 | 64,257 | - | 43,060 | 90,423 | - | 524,617 | - | 2,679,166 | ||||||||||||||||||||
| Cost of aeronautical and non-aeronautical services | (2,762,199 | ) | (1,098,430 | ) | (802,900 | ) | (616,086 | ) | (287,715 | ) | (106,983 | ) | (32,818 | ) | (439,432 | ) | 626,757 | (5,519,806 | ) | |||||||||||
| Cost of construction services | (1,724,290 | ) | (232,519 | ) | (64,257 | ) | - | (43,060 | ) | (90,423 | ) | - | (524,617 | ) | - | (2,679,166 | ) | |||||||||||||
| Operating profit | 5,330,104 | 761,689 | 538,716 | 206,324 | 411,071 | 149,227 | 593,936 | 586,887 | - | 8,577,954 | ||||||||||||||||||||
| Non-current assets | 28,047,534 | 16,967,203 | 1,441,280 | 12,931,705 | 3,668,607 | 1,513,605 | 40,873,911 | 8,307,403 | (42,256,225 | ) | 71,495,023 | |||||||||||||||||||
| Total Assets | 36,684,485 | 20,128,804 | 3,659,871 | 13,794,414 | 4,442,890 | 1,845,812 | 41,522,385 | 10,158,114 | (42,256,225 | ) | 89,980,550 | |||||||||||||||||||
| Total Liabilities | 21,677,712 | 10,204,005 | 809,644 | 8,139,123 | 77,775 | 114,064 | 118,636 | 383,243 | - | 41,524,202 | ||||||||||||||||||||
| Improvements to assets under concession and acquisition of furniture and equipment in the period | 1,557,564 | 252,989 | 64,412 | 4,083 | 40,062 | 95,541 | - | 479,976 | - | 2,494,627 | ||||||||||||||||||||
| Depreciation and amortization | (402,006 | ) | (386,613 | ) | (547,844 | ) | - | (84,116 | ) | (28,630 | ) | (3 | ) | (151,789 | ) | - | (1,601,001 | ) | ||||||||||||
| Revenue recognized. At a point in time: | ||||||||||||||||||||||||||||||
| Aeronautical revenue | 4,515,197 | 690,846 | 1,323,913 | - | 665,933 | 219,464 | - | 937,802 | - | 8,353,156 | ||||||||||||||||||||
| Non-aeronautical revenue | 699,190 | 735,88 | 1,364,998 | - | - | - | - | - | - | 2,800,076 | ||||||||||||||||||||
| Total | 5,214,387 | 1,426,734 | 2,688,911 | - | 665,933 | 219,464 | - | 937,802 | - | 11,153,232 | ||||||||||||||||||||
| Over a period of time: | ||||||||||||||||||||||||||||||
| Aeronautical revenue | 831,573 | 396,850 | 1,572 | - | 32,469 | 25,275 | - | 91,676 | - | 1,314,476 | ||||||||||||||||||||
| Non-aeronautical revenue | 2,448,349 | 423,148 | 801,023 | 822,410 | 149,438 | 40,101 | 626,757 | 148,630 | 626,757 | 3,231,053 | ||||||||||||||||||||
| Revenue for construction services | 1,724,290 | 232,519 | 64,257 | - | 43,060 | 90,423 | - | 524,617 | - | 2,679,166 | ||||||||||||||||||||
| Total | 5,004,212 | 1,052,517 | 735,194 | 822,410 | 160,029 | 155,799 | 626,757 | 764,923 | 626,757 | 7,224,695 |
Page 7
Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries
Notes to the Unaudited Condensed Consolidated Interim Financial Statements
June 30, 2026 and December 31, 2025
Segment information – 2025
| Six months ended June 30, 2025 | Cancún | Aerostar | Airplan | Mérida | Villahermosa | Holding & Services | Other | Eliminations | Total | ||||||||||||||||||
| Aeronautical revenue | 5,575,498 | 1,221,669 | 1,376,195 | 584,006 | 228,394 | - | 1,033,694 | - | 10,019,456 | ||||||||||||||||||
| Non-aeronautical revenue | 3,495,966 | 1,225,304 | 516,375 | 147,993 | 42,632 | 612,760 | 157,154 | (612,760 | ) | 5,585,424 | |||||||||||||||||
| Revenue for construction services | 1,295,212 | 229,565 | 6,894 | 49,455 | 18,660 | - | 298,241 | - | 1,898,027 | ||||||||||||||||||
| Cost of aeronautical and non-aeronautical services | (2,738,785 | ) | (1,139,629 | ) | (774,281 | ) | (268,626 | ) | (107,637 | ) | (23,965 | ) | (415,184 | ) | 612,760 | (4,855,347 | ) | ||||||||||
| Cost of construction services | (1,295,212 | ) | (229,565 | ) | (6,894 | ) | (49,455 | ) | (18,660 | ) | - | (298,241 | ) | - | (1,898,027 | ) | |||||||||||
| Operating profit | 5,943,551 | 913,927 | 903,212 | 387,587 | 136,452 | 582,232 | 640,316 | - | 9,513,834 | ||||||||||||||||||
| Non-current assets | 23,530,649 | 18,173,163 | 2,711,399 | 3,639,121 | 1,313,182 | 43,479,951 | 6,945,366 | (44,773,303 | ) | 55,019,528 | |||||||||||||||||
| Total Assets | 40,138,001 | 21,809,038 | 4,198,477 | 4,157,449 | 1,583,235 | 44,134,699 | 9,250,564 | (44,773,303 | ) | 80,498,190 | |||||||||||||||||
| Total Liabilities | 15,435,350 | 11,170,057 | 2,046,665 | 53,343 | 82,268 | 9,166,246 | 315,728 | - | 38,269,657 | ||||||||||||||||||
| Improvements to assets under concession and acquisition of furniture and equipment in the period | 1,313,031 | 249,600 | 6,916 | 55,397 | 18,417 | - | 392,389 | - | 2,035,750 | ||||||||||||||||||
| Depreciation and amortization | (389,128 | ) | (393,417 | ) | (215,077 | ) | (75,786 | ) | (26,937 | ) | (6 | ) | (135,348 | ) | - | (1,235,699 | ) | ||||||||||
| Recognition of revenue at a point in time. | |||||||||||||||||||||||||||
| Aeronautical revenue | 4,715,789 | 678,580 | 1,102,904 | 488,857 | 205,584 | - | 878,756 | - | 8,070,470 | ||||||||||||||||||
| Non-aeronautical revenue | 630,477 | 268,590 | - | - | - | - | - | - | 899,067 | ||||||||||||||||||
| Total | 5,346,266 | 947,170 | 1,102,904 | 488,857 | 205,584 | - | 878,756 | - | 8,969,537 | ||||||||||||||||||
| Over a period of time: | |||||||||||||||||||||||||||
| Aeronautical revenue | 859,710 | 543,089 | 273,291 | 95,149 | 22,810 | - | 154,937 | - | 1,948,986 | ||||||||||||||||||
| Non-aeronautical revenue | 2,865,490 | 956,714 | 516,375 | 147,993 | 42,632 | 612,760 | 157,153 | (612,760 | ) | 4,686,357 | |||||||||||||||||
| Revenue for construction services | 1,295,212 | 229,565 | 6,894 | 49,455 | 18,660 | - | 298,241 | - | 1,898,027 | ||||||||||||||||||
| Total | 5,020,412 | 1,729,368 | 796,560 | 292,597 | 84,102 | 612,760 | 610,331 | (612,760 | ) | 8,533,370 |
Aerostar is located in Puerto Rico, Airplan is located in Colombia and ASUR Airports is located in the United States. Segment assets and liabilities are presented only because those measures are regularly provided to the chief operating decision maker and changed materially from the amounts disclosed at December 31, 2025.
Page 8
Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries
Notes to the Unaudited Condensed Consolidated Interim Financial Statements
June 30, 2026 and December 31, 2025
3.1 Significant non-controlling interests
The Group holds a 60% interest in Aerostar. The summarized financial information of Aerostar, before intercompany eliminations, was as follows:
| Aerostar - summarized financial position | June 30, 2026 | December 31, 2025 | ||||||
| Cash and cash equivalents | 663,136 | 323,859 | ||||||
| Restricted cash and cash equivalents | 1,936,820 | 2,041,027 | ||||||
| Other current assets | 454,830 | 395,851 | ||||||
| Total current assets | 3,054,786 | 2,760,737 | ||||||
| Other current liabilities | (1,080,960 | ) | (1,211,118 | ) | ||||
| Working capital | 1,973,826 | 1,549,619 | ||||||
| Property and equipment - Net | 226,853 | 230,356 | ||||||
| Intangible assets - Net | 11,896,865 | 12,290,973 | ||||||
| Other non-current assets | 123,257 | 71,379 | ||||||
| Long-term debt | (8,084,526 | ) | (8,464,370 | ) | ||||
| Other non-current liabilities | (12,535 | ) | (13,375 | ) | ||||
| Deferred income taxes - Net | (601,180 | ) | (568,899 | ) | ||||
| Net assets | 5,522,560 | 5,095,683 | ||||||
| Aerostar - summarized results | Six
month June 30, 2026 | Six
month June 30, | Three
month June 30, 2026 | Three
month June 30, 2025 | ||||||||||||
| Revenue | 2,479,250 | 2,676,538 | 1,220,259 | 1,354,837 | ||||||||||||
| Operating costs and expenses | (1,637,912 | ) | (1,676,742 | ) | (834,910 | ) | (852,656 | ) | ||||||||
| Comprehensive financing result - Net | (213,653 | ) | (245,248 | ) | (105,537 | ) | (118,109 | ) | ||||||||
| Income tax | (49,194 | ) | (57,758 | ) | (22,982 | ) | (35,304 | ) | ||||||||
| Net income | 578,491 | 696,790 | 256,830 | 348,768 | ||||||||||||
| Foreign currency translation effect | (151,612 | ) | (563,432 | ) | (159,747 | ) | (470,988 | ) | ||||||||
| Total comprehensive income | 426,879 | 133,358 | 97,083 | (122,220 | ) | |||||||||||
Note 4 - Revenue from contracts with customers and lease income:
| For the six – month periods ended | For the three – month periods ended | |||||||||||||||
| Revenue category | June 30, 2026 | June 30, 2025 | June 30, 2026 | June 30, 2025 | ||||||||||||
| Passenger charges | 7,601,998 | 7,811,967 | 3,667,801 | 3,771,606 | ||||||||||||
| Landing fees | 754,536 | 817,318 | 347,283 | 374,766 | ||||||||||||
| Apron services | 488,928 | 501,240 | 216,008 | 225,126 | ||||||||||||
| Security services | 94,003 | 94,679 | 43,575 | 44,575 | ||||||||||||
| Baggage inspection | 306,918 | 314,639 | 142,686 | 149,431 | ||||||||||||
| Passenger walkways | 337,474 | 399,137 | 143,372 | 212,516 | ||||||||||||
| Temporary counters | 17,879 | 17,556 | 8,359 | 8,399 | ||||||||||||
| Other airport services | 270,356 | 289,347 | 131,826 | 136,703 | ||||||||||||
| Total regulated services | 9,872,092 | 10,245,883 | 4,700,910 | 4,923,122 | ||||||||||||
| Retail sales | 886,644 | 899,067 | 400,080 | 424,080 | ||||||||||||
| Non-permanent ground transportation access | 55,754 | 54,148 | 25,821 | 26,173 | ||||||||||||
| Car parking | 277,437 | 291,434 | 144,774 | 144,880 | ||||||||||||
| Other services | 210,644 | 163,871 | 33,704 | 72,968 | ||||||||||||
| Non-regulated revenue from contracts with customers | 1,430,479 | 1,408,520 | 604,415 | 668,101 | ||||||||||||
| Commercial lease and sublease income | 4,396,190 | 3,950,477 | 2,102,493 | 1,849,699 | ||||||||||||
| Total non-regulated services | 5,826,669 | 5,358,997 | 2,706,908 | 2,508,800 | ||||||||||||
| Construction services | 2,679,166 | 1,898,027 | 2,171,182 | 1,283,510 | ||||||||||||
| Total revenue | 18,377,927 | 17,502,907 | 9,578,964 | 8,715,432 | ||||||||||||
Regulated revenue by country was Ps$7,458,911 in Mexico, Ps$1,087,696 in Aerostar and Ps$1,325,485 in Airplan for the six-month period ended June 30, 2026 (2025: Ps$7,648,019, Ps$1,221,669 and Ps$1,376,195, respectively).
Page 9
Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries
Notes to the Unaudited Condensed Consolidated Interim Financial Statements
June 30, 2026 and December 31, 2025
Regulated revenue by country was Ps$3,537,383 in Mexico, Ps$521,327 in Aerostar and Ps$642,200 in Airplan for the three-month period ended June 30, 2026 (2025: Ps$3,648,716, Ps$619,385 and Ps$655,021, respectively).
Commercial lease and sublease income by activity
| For the six – month periods ended | ||||||||||||||||
| Commercial activity | Six month June 30, 2026 | Six month June 30, 2025 | Three month June 30, 2026 | Three month June 30, 2025 | ||||||||||||
| Duty free stores | 1,406,920 | 1,520,489 | 647,255 | 710,597 | ||||||||||||
| Food and beverages | 1,196,854 | 822,451 | 585,861 | 385,254 | ||||||||||||
| Advertising | 109,879 | 101,760 | 54,391 | 49,956 | ||||||||||||
| Car rental | 718,585 | 851,365 | 326,469 | 387,583 | ||||||||||||
| Banks and currency exchange services | 40,330 | 55,332 | 18,174 | 22,944 | ||||||||||||
| Teleservices | 12,327 | 13,661 | 6,483 | 5,158 | ||||||||||||
| Ground transportation | 98,899 | 97,229 | 45,706 | 45,831 | ||||||||||||
| Other services | 812,396 | 488,190 | 418,154 | 242,376 | ||||||||||||
| Total commercial lease and sublease income | 4,396,190 | 3,950,477 | 2,102,493 | 1,849,699 | ||||||||||||
Construction service revenue by geography
| Geography | Six
month | Six month
June 30, 2025 | Three month
June 30, 2026 | Three
month June 30, | ||||||||||||
| Mexico | 2,382,390 | 1,661,568 | 1,990,598 | 1,138,916 | ||||||||||||
| Aerostar | 232,519 | 229,565 | 118,092 | 140,791 | ||||||||||||
| Airplan | 64,257 | 6,894 | 62,492 | 3,803 | ||||||||||||
| Total construction services | 2,679,166 | 1,898,027 | 2,171,182 | 1,283,510 | ||||||||||||
At December 31, 2025, undiscounted future fixed minimum lease income under non-cancellable commercial arrangements was as follows. The total included Ps$6,509,541 related to ASUR Airports LLC:
| Year | Minimum lease income | |||
| 2026 | 2,729,225 | |||
| 2027 | 4,459,063 | |||
| 2028 | 3,403,997 | |||
| 2029 | 1,415,386 | |||
| 2030 | 1,006,852 | |||
| 2031 to 2034 | 2,149,383 | |||
| Total | 15,163,906 | |||
Page 10
Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries
Notes to the Unaudited Condensed Consolidated Interim Financial Statements
June 30, 2026 and December 31, 2025
Note 5 - Costs and expenses by nature:
| For the six – month periods ended | For the three – month periods ended | |||||||||||||||
| Cost or expense | June 30, 2026 | June 30, 2025 | June 30, 2026, | June 30, 2025, | ||||||||||||
| Short-term employee benefits | 1,167,741 | 1,049,948 | 595,209 | 544,801 | ||||||||||||
| Electricity | 271,647 | 284,102 | 147,236 | 145,685 | ||||||||||||
| Maintenance and conservation | 434,272 | 431,697 | 243,621 | 222,932 | ||||||||||||
| Professional fees | 280,440 | 193,198 | 98,458 | 101,850 | ||||||||||||
| Insurance and surety bonds | 150,114 | 164,598 | 72,860 | 79,297 | ||||||||||||
| Security services | 342,613 | 309,126 | 171,535 | 157,602 | ||||||||||||
| Cleaning services | 233,875 | 222,973 | 91,929 | 114,085 | ||||||||||||
| Technical assistance fees | 198,604 | 213,436 | 89,754 | 98,507 | ||||||||||||
| Concession fees and Airport Use Right (DUAC) | 1,378,135 | 1,487,100 | 641,138 | 699,285 | ||||||||||||
| Depreciation and amortization | 1,601,001 | 1,235,699 | 814,564 | 610,912 | ||||||||||||
| Commercial goods consumed | 296,007 | 297,958 | 134,675 | 139,176 | ||||||||||||
| Construction services | 2,679,166 | 1,898,027 | 2,171,182 | 1,283,510 | ||||||||||||
| Employee profit sharing | 61,070 | 65,780 | 33,507 | 38,668 | ||||||||||||
| Termination benefits | 8,991 | 4,549 | 4,735 | 2,512 | ||||||||||||
| Expected credit loss allowance | 50,771 | 6,663 | 44,493 | - | ||||||||||||
| Other | 645,526 | 124,219 | 333,990 | 62,602 | ||||||||||||
| Total operating costs and expenses | 9,799,973 | 7,989,073 | 5,688,886 | 4,301,424 | ||||||||||||
Concession fees and DUAC for the six-month period ended June 30, 2026 consisted of Ps$906,700 in Mexico, Ps$360,849 in Airplan and Ps$110,586 in Aerostar (2025: Ps$1,007,715, Ps$360,724 and Ps$118,661, respectively).
Concession fees and DUAC for the three-month period ended June 30, 2026 consisted of Ps$409,030 in Mexico, Ps$177,052 in Airplan and Ps$55,055 in Aerostar (2025: Ps$470,155, Ps$171,456 and Ps$57,674, respectively).
The increase in other costs primarily reflects the consolidation of ASUR Airport, effective December 10, 2025. The increase for the period from January to June 2026 primarily includes lease costs of Ps$456,160, as well as other minor variable lease contracts (ORD and JFK T1). On a consolidated basis, the provision for expected credit losses amounts to Ps$45,615.
Note 6 - Cash equivalents and restricted cash:
| Concept | June 30, 2026 | December 31, 2025 | ||||||
| Cash at banks and on hand | 4,748,176 | 4,258,090 | ||||||
| Short-term investments | 6,893,208 | 6,858,245 | ||||||
| Cash and cash equivalents | 11,641,384 | 11,116,335 | ||||||
| Debt service and operating reserves - Aerostar | 1,265,755 | 1,293,363 | ||||||
| Passenger Facility Charges restricted for approved projects | 671,065 | 747,664 | ||||||
| Restricted cash and cash equivalents | 1,936,820 | 2,041,027 | ||||||
Note 7 - Financial assets and other current assets:
7.1 Accounts receivable
| Concept | June 30, 2026 | December 31, 2025 | ||||||
| Gross trade receivables | 2,988,920 | 2,888,148 | ||||||
| Expected credit loss allowance | (346,659 | ) | (325,839 | ) | ||||
| Accounts receivable – Net | 2,642,261 | 2,562,309 | ||||||
Page 11
Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries
Notes to the Unaudited Condensed Consolidated Interim Financial Statements
June 30, 2026 and December 31, 2025
Movement in expected credit loss allowance
| Movement | Amount | |||
| As of December 31, 2025 | 325,839 | |||
| Increase – Mexico | 12,660 | |||
| Increase – Aerostar | 32,019 | |||
| Application – Aerostar | (5,156 | ) | ||
| Foreign currency translation – Aerostar | (442 | ) | ||
| Write-off – Airplan | (32,671 | ) | ||
| Foreign currency translation – Airplan | 8,318 | |||
| Increase - ASUR Airports | 6,092 | |||
| As of June 30, 2026 | 346,659 | |||
No material impairment in the overall credit risk profile was identified during the period, except for specific customer matters reflected in the expected credit loss allowance above.
7.2 Other current assets
| Concept | June 30, 2026 | December 31, 2025 | ||||||
| Document receivable | 100,696 | 100,696 | ||||||
| Income taxes recoverable | 1,097,880 | 1,112,994 | ||||||
| Value-added tax, inventory and other current assets | 1,066,486 | 944,426 | ||||||
| Document receivable and Recoverable taxes and other current assets | 2,265,062 | 2,158,116 | ||||||
Page 12
Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries
Notes to the Unaudited Condensed Consolidated Interim Financial Statements
June 30, 2026 and December 31, 2025
Note 8 - Land, furniture and equipment - Net:
| Class | January 1, 2026 | Foreign
currency Translation | Additions / disposals | June 30, 2026 | ||||||||||||
| Land | 195 | 16 | - | 211 | ||||||||||||
| Furniture and equipment | 182,764 | (95 | ) | 16,396 | 199,065 | |||||||||||
| Machinery and equipment | 204,123 | (6,245 | ) | 20,162 | 218,040 | |||||||||||
| Computer equipment | 201,782 | (6,311 | ) | 33,696 | 229,167 | |||||||||||
| Transportation equipment | 60,978 | (2,532 | ) | 33,121 | 91,567 | |||||||||||
| Leasehold improvements | 193,882 | (5,221 | ) | (37,709 | ) | 150,952 | ||||||||||
| Accumulated depreciation | (540,656 | ) | 13,603 | (51,825 | ) | (578,878 | ) | |||||||||
| Total | 303,068 | (6,785 | ) | 13,841 | 310,124 | |||||||||||
Depreciation expense on land, furniture and equipment was Ps$51,825 for the six-month period ended June 30, 2026 (2025: Ps$44,921). Depreciation of right-of-use assets included in this note was Ps$3,669 (2025: Ps$3,526). Total capital expenditures, including concession assets and investment properties, are disclosed in Note 3.
Depreciation expense on land, furniture and equipment was Ps$26,477 for the three-month period ended June 30, 2026 (2025: Ps$22,623). Depreciation of right-of-use assets included in this note was Ps$1,862 (2025: Ps$1,799). Total capital expenditures, including concession assets and investment properties, are disclosed in Note 3.
Note 9 - Investment properties - Net:
Investment properties comprise rights and improvements related to commercial premises operated by ASUR Airports at LAX, ORD and JFK. Right-of-use assets that meet the definition of investment property are presented in this line item and measured subsequently at fair value in accordance with IAS 40. Changes in fair value are recognized in profit or loss. The fair value measurement is classified within Level 3 of the fair value hierarchy.
| Component | December 31, 2025 | Foreign
currency Translation | Net
additions / reclassifications | June 30, 2026 | ||||||||||||
| Leasehold improvements | 843,878 | (24,935 | ) | 218,209 | 1,037,152 | |||||||||||
| Construction in progress | 993,967 | (29,369 | ) | (195,761 | ) | 768,837 | ||||||||||
| Fair value adjustment component | 2,824,479 | (83,457 | ) | - | 2,741,022 | |||||||||||
| Subtotal - improvements and fair value | 4,662,324 | (137,761 | ) | 22,448 | 4,547,011 | |||||||||||
| Right-of-use assets classified as investment property | 8,096,625 | (239,240 | ) | (217,161 | ) | 7,640,224 | ||||||||||
| Total investment properties | 12,758,949 | (377,001 | ) | (194,713 | ) | 12,187,235 | ||||||||||
Fair value is determined principally by using discounted cash flow techniques based on contractual rental income, expected occupancy, operating costs, capital expenditures, terminal values and market participant discount rates. Independent external valuation specialists support management’s valuation. The principal unobservable inputs at the latest valuation date were as follows:
| Property | Discount rate | Investment horizon (years) | ||||||
| LAX | 8.75 | % | 12.7 | |||||
| ORD | 8.75 | % | 13.7 | |||||
| JFK T1 | 11.75 | % | 13.11 | |||||
| JFK T8 | 9.00 | % | 11.1 | |||||
Based on the December 31, 2025 valuation, a one percentage point increase in the discount rates would have decreased the fair value by approximately Ps$781,638, while a one percentage point decrease would have increased the fair value by approximately Ps$646,182. The sensitivity is presented to illustrate the effect of a reasonably possible change and should be updated for the June 30, 2026 valuation if the underlying cash-flow projections or valuation assumptions changed materially.
Note 10 - Intangible assets, airport concessions and goodwill - Net:
| Class | January 1, 2026 | Foreign currency Translation | Additions / amortization | Transfers | June 30, 2026 | |||||||||||||||
| Airport concessions – regulated | 64,480,425 | (132,925 | ) | 21,331 | 1,215,065 | 65,583,896 | ||||||||||||||
| Contract assets | 7,444,549 | (30,062 | ) | 2,676,212 | (1,215,065 | ) | 8,875,634 | |||||||||||||
| Advances to contractors | 1,446,401 | 13,177 | (108,551 | ) | - | 1,351,027 | ||||||||||||||
| Licenses and direct commercial operations | 599,311 | - | 42,308 | - | 641,619 | |||||||||||||||
| Commercial rights - non-regulated | 5,868,367 | (173,399 | ) | - | - | 5,694,968 | ||||||||||||||
| Goodwill | 2,944,756 | (67,056 | ) | 71,933 | - | 2,949,633 | ||||||||||||||
| Accumulated amortization | (24,760,860 | ) | (70,736 | ) | (1,549,176 | ) | - | (26,380,772 | ) | |||||||||||
| Total | 58,022,949 | (461,001 | ) | 1,154,057 | - | 58,716,005 | ||||||||||||||
Page 13
Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries
Notes to the Unaudited Condensed Consolidated Interim Financial Statements
June 30, 2026 and December 31, 2025
Amortization expense was Ps$1,549,176 for the six-month period ended June 30, 2026 (2025: Ps$1,190,778). The expense included Ps$623,041 related to Mexican concessions, Ps$342,819 related to Aerostar, Ps$547,536 related to Airplan and Ps$35,780 related to licenses and direct commercial operations.
Amortization expense was Ps$788,087 for the three-month period ended June 30, 2026 (2025: Ps$588,289). The expense included Ps$402,251 related to Mexican concessions, Ps$154,722 related to Aerostar, Ps$215,374 related to Airplan and Ps$15,740 related to licenses and direct commercial operations.
As a result of a change in estimate made in 2025, the regulated component of the Airplan concession is amortized over the period through 2027, based on the expected regulated revenue pattern, while the non-regulated component is amortized on a straight-line basis through 2032. Management reassessed this estimate at June 30, 2026 and confirmed the following change Ps.332,767.
Goodwill by cash-generating unit
| Cash-generating units | June 30, 2026 | December 31, 2025 | ||||||
| Aerostar | 834,578 | 859,989 | ||||||
| Airplan | 1,370,585 | 1,412,229 | ||||||
| ASUR Airports | 744,470 | 672,538 | ||||||
| Total goodwill | 2,949,633 | 2,944,756 | ||||||
Management reviewed indicators of impairment for goodwill and indefinite-lived assets at June 30, 2026. No impairment indicators were identified.
Note 11 - Lease liabilities:
| Concept | June 30, 2026 | December 31, 2025 | ||||||
| Current lease liabilities | 1,269,421 | 1,394,981 | ||||||
| Non-current lease liabilities | 6,404,691 | 6,720,103 | ||||||
| Total lease liabilities | 7,674,112 | 8,115,084 | ||||||
| Depreciation | 3,669 | 7,146 | ||||||
| Interest Expense | 238,812 | 39,031 | ||||||
Current lease liabilities principally comprise approximately Ps$1,235,540 related to commercial spaces subleased to third parties and Ps$33,878 related to vehicles and other leases. Non-current lease liabilities relate primarily to U.S. airport commercial arrangements was Ps$6,404,691. Interest expense on lease liabilities was approximately Ps$238,812 for the six-month period ended June 30, 2026.
Depreciation expense on right-of-use assets for the three-month period ended June 30, 2026 was Ps$1,862, and interest expense on lease liabilities was approximately Ps$118,294 for the three-month period ended June 30, 2026.
Depreciation expense on right-of-use assets for the three-month and six-month period ended June 30, 2025 was Ps$1,530 and Ps.$3,064 respectively, and interest expense on lease liabilities was approximately Ps$1,660 and Ps.$3,250 for the three-month and six-month period ended June 30, 2025, respectively.
The LAX and JFK T8 arrangements include fixed or in-substance fixed payments and are measured as lease liabilities. Certain ORD and JFK T1 arrangements contain variable payments linked to passenger volumes and do not result in recognized lease liabilities to the extent that the payments are not fixed or in-substance fixed. These rents are presented in the Note 5 as a rental costs. Right-of-use assets held to earn rentals are presented as investment properties in Note 9.
Reconciliation of liabilities arising from financing activities
| Movement | ||||
| Opening balance | 8,115,084 | |||
| Interest accrued | 238,812 | |||
| Interest paid | (233,837 | ) | ||
| Principal payments | (456,160 | ) | ||
| Foreign currency translation | 10,213 | |||
| Closing balance | 7,674,112 | |||
Page 14
Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries
Notes to the Unaudited Condensed Consolidated Interim Financial Statements
June 30, 2026 and December 31, 2025
Note 12 - Trade accounts payable, accrued expenses and other payables:
| Concept | June 30, 2026 | December 31, 2025 | ||||||
| Trade accounts payable | 614,529 | 624,413 | ||||||
| Taxes payable | 626,622 | 535,837 | ||||||
| Concession asset obligations | 416,277 | 506,881 | ||||||
| Related-party payable | 89,754 | 98,507 | ||||||
| Salaries and employee-related accruals | 281,909 | 288,670 | ||||||
| Other creditors for services | 1,484,440 | 1,375,147 | ||||||
| Contractor payables | 29,863 | 29,250 | ||||||
| Total trade accounts payable, accrued expenses and other payables | 3,543,394 | 3,458,705 | ||||||
Note 13 - Bank loans and long-term debt:
| Debt category | June 30, 2026 | December 31, 2025 | ||||||
| Bank loans – current | 15,867,018 | 220,356 | ||||||
| Bank loans - non-current | 2,423,441 | 18,396,343 | ||||||
| Aerostar debt – current | 404,718 | 405,494 | ||||||
| Aerostar debt - non-current | 8,084,526 | 8,464,370 | ||||||
| Total interest-bearing debt | 26,779,703 | 27,486,563 | ||||||
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Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries
Notes to the Unaudited Condensed Consolidated Interim Financial Statements
June 30, 2026 and December 31, 2025
Principal debt instruments
The composition of debt instruments as of June 30, 2026, is shown below:
| Instrument | Carrying amount | Interest rate | Maturity | |||||||
| Santander - Mexico | 675,599 | TIIEF + 1.50% | September 2027 | |||||||
| BBVA - Mexico | 1,747,842 | TIIE 28-day + 1.35% | July 2029 | |||||||
| BBVA - Mexico | 9,516,008 | TIIEF 28-day + 1.25% | May 2027 | |||||||
| JPMorgan - Mexico | 6,351,010 | TIIEF 28-day + 0.75% | June 2027 | |||||||
| Aerostar senior secured debt | 8,489,244 | 4.92% to 6.75% | March 2035 | |||||||
| Total | 26,779,703 | |||||||||
The composition of debt instruments as of December 31, 2025, is shown below:
| Instrument | Carrying amount | Interest rate | Maturity | |||||||
| Santander - Mexico | 675,820 | TIIEF + 1.50% | September 2027 | |||||||
| BBVA - Mexico | 1,747,513 | TIIE 28-day + 1.35% | July 2029 | |||||||
| BBVA - Mexico | 9,513,558 | TIIEF 28-day + 1.25% | May 2027 | |||||||
| JPMorgan - Mexico | 6,262,780 | TIIEF 28-day + 0.75% | June 2027 | |||||||
| Aerostar senior secured debt | 8,869,864 | 4.92% to 6.75% | March 2035 | |||||||
| Airplan Syndicated Loan | 417,028 | Rediscount Rate + 1.5%/ DTF plus 4% | June 2027 | |||||||
| Total | 27,486,563 | |||||||||
On April 22, 2026, Airplan prepaid its remaining syndicated bank loan balance of Ps$323,875 without penalty. At June 30, 2026, the Group had no bank debt in Colombia. The Mexican loan balances above include accrued interest and unamortized transaction costs. The Group recognized financing transaction costs using the effective interest method.
The Group complied with its financial covenants at June 30, 2026. The net leverage ratio for the relevant Mexican facilities was approximately 1.7 times compared with a maximum of 3.5 times, and interest coverage ratios ranged from approximately 7.9 to 11.1 times compared with the applicable minimum requirements. Aerostar’s debt service coverage ratio was approximately 1.9 times compared with its minimum requirement.
Aerostar maintained undrawn revolving facilities of USD$20 million maturing in December 2026 and USD$10 million maturing in December 2027. In connection with the contemplated Motiva Airports transaction, the Group paid a financing structuring fee of Ps$119,029. At June 30, 2026, the related USD$936 million facility had not been formally drawn.
Note 14 - Stockholders' equity, dividends and earnings per share:
| Class of shares | Shares
issued and outstanding | Capital stock | ||||||
| Series B shares | 277,050,000 | 7,173,079 | ||||||
| Series BB shares | 22,950,000 | 594,197 | ||||||
| Total | 300,000,000 | 7,767,276 | ||||||
On April 23, 2026, the shareholders approved an ordinary cash dividend of Ps$3,000,000, equivalent to Ps$10.00 per share, which was paid on May 28, 2026. At the Ordinary General Meeting held on April 23, 2025, the Company's shareholders approved the payment of an ordinary cash dividend of $15,000,000, sourced from unappropriated earnings and the share repurchase reserve account; this dividend was paid on May 29, 2025. They also approved the payment of extraordinary dividends of $4,500,000 and a nominal $4,500,000, sourced from the share repurchase reserve account and they were paid on September 30, 2025, and November 27, 2025, respectively. As of June 30, 2025, approved but unpaid dividends were recognized as short-term liabilities.
Earnings per share
| Concept | For the six– month periods ended, 2026 | For the six– month periods ended, 2025 | ||||||
| Net income attributable to the controlling interest | 5,109,610 | 5,660,598 | ||||||
| Weighted-average shares outstanding | 300,000,000 | 300,000,000 | ||||||
| Basic and diluted earnings per share (Mexican pesos) | 17.0320 | 18.8687 | ||||||
| Concept | For the three– month periods ended, 2026 | For the three– month periods ended, 2025 | ||||||
| Net income attributable to the controlling interest | 2,295,051 | 2,144,814 | ||||||
| Weighted-average shares outstanding | 300,000,000 | 300,000,000 | ||||||
| Basic and diluted earnings per share (Mexican pesos) | 7.655 | 7.149 | ||||||
Page 16
Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries
Notes to the Unaudited Condensed Consolidated Interim Financial Statements
June 30, 2026 and December 31, 2025
There were no potentially dilutive ordinary shares during the periods presented; therefore, basic and diluted earnings per share were the same.
Note 15 - Income taxes:
Income tax expense for the interim period is recognized based on management’s best estimate of the weighted-average annual effective income tax rate expected for the full financial year, applied to the pre-tax income of the interim period. In addition, there were no enacted or substantially enacted tax rates to recognize the remeasurement of deferred tax balances in the interim periods. The estimated annual effective income tax rate reflects the expected mix of taxable income and applicable tax rates in the jurisdictions in which the Group operates, as well as the expected effect of permanent differences, tax incentives and other items affecting the annual effective tax rate. The estimated annual effective income tax rate is reassessed at each interim reporting date based on changes in facts and circumstances and updated expectations for the full financial year.
As of June 30, 2026, the Company operates in Mexico, Colombia, Puerto Rico, and the United States and continues to monitor developments related to the implementation of Pillar Two legislation in these jurisdictions. Based on its assessment, the Company has determined that the Pillar Two rules do not have a material effect on the Company's unaudited condensed consolidated financial position, unaudited condensed consolidated results of operations, or unaudited condensed consolidated cash flows as of and for the six-month period ended June 30, 2026.
Note 16 - Related-party transactions:
| Balance | 2026 / June 30, 2026 | 2025 /
December 31, 2025 | ||||||
| Payable to Inversiones y Técnicas Aeroportuarias, S. A. P. I. de C. V. | (89,754 | ) | (98,507 | ) | ||||
| Transaction | 2026 / June 30, 2026 | 2025 /
December 31, 2025 | ||||||
| Technical assistance fees to Inversiones y Técnicas Aeroportuarias, S. A. P. I. de C. V. | (198,604 | ) | (400,912 | ) | ||||
| Lease expense to Cancun Airport Services, S. A. de C. V. | (3,108 | ) | (6,717 | ) | ||||
| Commercial revenue - Autobuses de Oriente, S. A. de C. V. | 9,483 | 18,998 | ||||||
| Commercial revenue - Autobuses Golfo Pacífico, S. A. de C. V. | 5,468 | 10,249 | ||||||
| Commercial revenue - Coordinados de México de Oriente, S. A. de C. V. | 2 | 6 | ||||||
The technical assistance agreement with ITA provides for a fee based on 2.5% of a defined consolidated earnings measure, subject to a minimum amount of USD$2 million adjusted for inflation, plus applicable value-added tax. Related-party transactions were conducted under the contractual terms agreed by the parties.
For the six-month period ended June 30, 2026, compensation of key management personnel was Ps$126,962 and emoluments to the Board of Directors and committees were Ps$9,293. For the year ended December 31, 2025, short-term compensation of key management personnel was Ps$191,020 and emoluments to the Board of Directors and committees were Ps$12,068.
Management determined that compensation of key management personnel for the six-month periods ended June 30, 2026 and 2025 as a follow:
| Transaction | June 30, 2026 | December 31, 2025 | ||||||
| Short term salaries and other benefits paid to key personal | 126,962 | 191,020 | ||||||
| Fees paid to the Board of Directors and Committees | 9,293 | 12,068 | ||||||
Furthermore, there were no material changes in the relevant compensation arrangements or any new material related-party arrangements during the period.
Note 17 - Commitments and contingencies:
17.1 Capital and lease commitments
| Commitment | Amount | Timing / status | ||
| Mexico Master Development Program - 2026 | 6,056,100 | Commitments determined at June 30, 2026 | ||
| Mexico Master Development Program - 2027 | 5,905,100 | Commitments determined at June 30, 2026 | ||
| Mexico Master Development Program - 2028 | 7,656,900 | Commitments determined at June 30, 2026 | ||
| Future lease payments - Mexico, through two years | 20,332 | Contractual commitments | ||
| Future lease payments - ASUR Airports, through two years | 2,271,260 | Contractual commitments | ||
| JFK T8 development and concession improvements | 2,652,250 | Commitments determined at June 30, 2026 | ||
| JFK T1 and other JFK T8 commitments | 5,668,839 | Commitments determined at June 30, 2026 | ||
| LAX development commitment | 4,261,624 | Commitments determined at June 30, 2026 |
Page 17
Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries
Notes to the Unaudited Condensed Consolidated Interim Financial Statements
June 30, 2026 and December 31, 2025
17.2 Proposed acquisition of Companhia de Participações em Concessões
On January 26, 2026, the shareholders authorized the potential acquisition of an equity interest in Companhia de Participações em Concessões ("CPC"), which has interests in airport concessions in Brazil, Ecuador, Costa Rica and Curaçao. The contemplated transaction was expected to be financed principally through debt. As of June 30, 2026, the transaction remained subject to the satisfaction of customary closing conditions and required approvals. Accordingly, no acquisition accounting has been recognized in these condensed consolidated interim financial statements. Subsequent developments are described in Note 21.
Page 18
Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries
Notes to the Unaudited Condensed Consolidated Interim Financial Statements
June 30, 2026 and December 31, 2025
17.3 Litigation and other contingencies
| Matter | Exposure | Status | ||
| Employee profit-sharing and tax matter | 99,800 | Remote - no provision recognized | ||
| Competition authority proceeding | 73,000 | Risk assessed as remote at the latest evaluation |
Management and legal counsel evaluate claims and proceedings at each reporting date. Provisions are recognized when a present obligation exists, an outflow of resources is probable and the amount can be estimated reliably. Contingent liabilities are disclosed unless the possibility of an outflow is remote.
Note 18 - Financial instruments and financial risk management:
18.1 Foreign currency risk
| USD-denominated position (thousands of U.S. dollars) | June 30, 2026 | December 31, 2025 | ||||||
| Monetary assets | 443,341 | 413,507 | ||||||
| Monetary liabilities | (8,751 | ) | (7,496 | ) | ||||
| Net monetary asset position | 434,590 | 406,011 | ||||||
The Group is exposed to foreign currency risk primarily from its investments and operations in Puerto Rico, the United States and Colombia. Foreign currency translation effects are recognized in other comprehensive income, while exchange differences on monetary items are recognized in profit or loss, except when another IFRS Accounting Standard requires a different treatment.
18.2 Liquidity risk
| Region | Cash and equivalents | Interest-bearing debt | Current lease liabilities | Non-current lease liabilities | ||||||||||||
| Mexico | 8,733,048 | 18,290,459 | 33,881 | - | ||||||||||||
| Aerostar | 663,136 | 8,489,244 | - | - | ||||||||||||
| Airplan | 1,784,804 | - | - | - | ||||||||||||
| ASUR Airports | 460,396 | - | 1,235,540 | 6,404,691 | ||||||||||||
| Total | 11,641,384 | 26,779,703 | 1,269,421 | 6,404,691 | ||||||||||||
| Concept | June 30, 2026 | December 31, 2025 | ||||||
| Current assets | 18,485,527 | 17,877,787 | ||||||
| Current liabilities | (21,334,940 | ) | (5,903,180 | ) | ||||
| Net current liquidity position | (2,849,413 | ) | 11,974,607 | |||||
The following table presents the analysis of the net financial liabilities of the Company based on the period between the date of the statement of consolidated financial position and the maturity date, including undiscounted contractual cash flows
| At December 31, 2025 | Under
3 months | Between
3 months and one year | Between 1 and 2 years | Between 2 and 5 years | ||||||||||||
| Bank loans and interest | 371,975 | 1,121,984 | 17,497,589 | 2,037,150 | ||||||||||||
| Long term debt | 373,370 | 380,934 | 767,626 | 2,281,367 | ||||||||||||
| Suppliers | 624,413 | |||||||||||||||
| Accounts payable and accrued expenses | 1,502,904 | |||||||||||||||
| Lease liabilities | 351,412 | 1,054,236 | 865,612 | 2,596,836 | ||||||||||||
| At June 30, 2026 | Under
3 months | Between
3 months and one year | Between 1 and 2 years | Between 2 and 5 years | ||||||||||||
| Bank loans and interest | 373,557 | 17,103,933 | 847,355 | 1,957,687 | ||||||||||||
| Long term debt | 369,678 | 368,017 | 752,009 | 2,227,557 | ||||||||||||
| Suppliers | 614,529 | |||||||||||||||
| Accounts payable and accrued expenses | 1,604,057 | |||||||||||||||
| Lease liabilities | 341,028 | 1,023,085 | 840,035 | 2,520,105 | ||||||||||||
Page 19
Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries
Notes to the Unaudited Condensed Consolidated Interim Financial Statements
June 30, 2026 and December 31, 2025
As of June 30, 2026 and 2025, the amount of undiscounted contractual cash flows associated with maturities greater than 5 years of long-term debt including interest amounts to Ps.10,650,000 and Ps.8,846,000, respectively.
As of June 30, 2026 and 2025, the amount of undiscounted contractual cash flows associated with lease liabilities maturing in more than 5 years amounts to Ps.6,411,913 and Ps.6,492,092.
Management monitors forecast and actual cash flows, debt maturities, covenant headroom and available committed facilities. Based on current forecasts, management expects the Group to meet its financial obligations as they fall due for at least twelve months from the authorization date.
At June 30, 2026, the Group held cash and cash equivalents of Ps.11,641,384, comprising Ps.4,748,176 of cash at banks and on hand and Ps.6,893,208 of short-term investments. These amounts represent the Group’s principal financial assets available to meet short-term liquidity requirements. See Note 6.
In addition, Aerostar maintained undrawn committed revolving credit facilities of USD$20 million maturing in December 2026 and USD$10 million maturing in December 2027. See Note 13. The availability of these facilities is subject to compliance with their applicable contractual terms and financial covenants. At June 30, 2026, the Group was in compliance with its financial covenants.
18.3 Credit risk
Credit risk arises principally from passenger charges and other amounts receivable from airlines and commercial counterparties. The Group performs ongoing credit evaluations and recognizes expected credit losses as described in Note 7. Cash and short-term investments are placed with financial institutions that management considers to have adequate credit quality.
18.4 Fair value measurements
The carrying amounts of cash and cash equivalents, trade receivables, trade accounts payable and other short-term financial instruments approximate their fair values because of their short maturities. Bank loans and Short- and Long-Term debt are measured at amortized cost; their fair values are determined using market interest rates and are classified within Level 2 of the fair value hierarchy. Investment properties are measured at fair value within Level 3, as described in Note 9.
As of June 30, 2026, the fair value of financial assets and liabilities is similar to their carrying amounts.
Page 20
Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries
Notes to the Unaudited Condensed Consolidated Interim Financial Statements
June 30, 2026 and December 31, 2025
Note 19 - Critical accounting judgments and key sources of estimation uncertainty:
The judgments and estimates that have the most significant effect on the amounts recognized in these condensed consolidated interim financial statements are consistent with those described in the 2025 annual financial statements, except for updates resulting from current-period facts and circumstances. The principal areas are summarized below.
| Area | Key judgment or estimate | |
| Revenue recognition and maximum tariff compliance | Determining the timing of satisfaction of performance obligations, estimating discounts and monitoring regulated revenue against maximum tariffs. | |
| Useful life and amortization pattern of the Airplan concession | Estimating the expected pattern of regulated and non-regulated revenue through the concession periods. | |
| Impairment of concessions, commercial rights and goodwill | Forecast passenger traffic, revenue growth, operating margins, discount rates, terminal values and concession terms. | |
| Fair value of investment properties | Projected rents, occupancy, capital expenditures, operating costs, discount rates and investment horizons. | |
| ASUR Airports purchase price allocation | Identifying acquired assets and liabilities and measuring investment properties, lease liabilities, non-controlling interests, deferred taxes and goodwill. | |
| Interim income taxes | Estimating the weighted-average annual effective tax rate and recognizing discrete items and recoverability of deferred tax assets. |
Note 20 - Reconciliation of liabilities arising from financing activities:
| Movement | Aerostar debt | Bank loans | ||||||
| Opening balance | 8,869,864 | 18,616,699 | ||||||
| Interest accrued | 239,868 | 965,751 | ||||||
| Interest paid | (244,086 | ) | (856,763 | ) | ||||
| Principal payments | (129,328 | ) | (323,875 | ) | ||||
| Foreign currency translation | (247,074 | ) | (111,353 | ) | ||||
| Closing balance | 8,489,244 | 18,290,459 | ||||||
The reconciliation includes accrued interest and unamortized transaction costs. Lease liability movements are disclosed in Note 11 and should be added to this reconciliation if management concludes that a combined financing-liability reconciliation provides more useful information.
Note 21 - Events after the reporting period:
| a) | On August 20, 2026, the Company’s shareholders approved a corporate reorganization to integrate into ASUR the technical assistance and technology transfer services currently provided by Inversiones y Técnicas Aeroportuarias, S.A.P.I. de C.V. (“ITA”). The transaction involves entities under common control and is expected to result in the issuance of approximately 7.2 million net new shares of ASUR’s capital stock. The Company does not expect the transaction to have a significant impact on its consolidated financial statements. |
| b) | Management evaluated events occurring after June 30, 2026 through authorization date. As described in Note 17.2, on January 26, 2026, the shareholders authorized the potential acquisition of an equity interest in Companhia de Participações em Concessões ("CPC"), which has interests in airport concessions in Brazil, Ecuador, Costa Rica and Curaçao. Subsequent to June 30, 2026, and prior to the authorization date of these condensed consolidated interim financial statements, the Group completed the acquisition of Motiva Infraestrutura de Mobilidade S.A.'s entire equity interest in CPC on September 1, 2026, following the satisfaction of all conditions precedent under the related purchase agreement. The purchase price amounted to approximately R$5.1 billion (US$992.2 million), subject to customary closing adjustments, and was financed through a loan facility arranged in connection with the acquisition. As a result of the transaction, the Group expanded its airport portfolio through interests in airports located in Brazil, Ecuador, Costa Rica and Curaçao. |
As of the authorization date of these condensed consolidated interim financial statements, the determination of the fair values of the identifiable assets acquired and liabilities assumed, as well as the related purchase price allocation, had not been finalized. Accordingly, the accounting for the acquisition remains preliminary and will be completed in accordance with IFRS 3, Business Combinations, during the applicable measurement period. Because the acquisition was completed after June 30, 2026, no amounts related to the acquired business have been recognized in these condensed consolidated interim financial statements.
Except for the matter described above, management identified no events after the reporting period that required adjustment to, or material disclosure in, these condensed consolidated interim financial statements.
Note 22 - Authorization of the financial statements:
These unaudited condensed consolidated interim financial statements and the accompanying notes were authorized and proposed for issuance to the Board of Directors by Lic. Adolfo Castro Rivas, Chief Executive Officer of Grupo Aeroportuario del Sureste, S. A. B. de C. V.
Page 21